Veritiv Corp. announced Monday an agreement to be acquired by private investment firm Clayton, Dubilier & Rice LLC in a deal that values the packaging and hygiene products company at about $2.3 billion. Veritiv’s stock was halted for news, and was inactive in the premarket prior to the halt. Under terms of the deal, Veritiv shareholders will receive $170 a share in cash for each Veritiv share they own, which represents a 20.4% premium to Friday’s closing price of $141.21.
announced Monday an agreement to be acquired by private investment firm Clayton, Dubilier & Rice LLC in a deal that values the packaging and hygiene products company at about $2.3 billion. Veritiv’s stock was halted for news, and was inactive in the premarket prior to the halt. Under terms of the deal, Veritiv shareholders will receive $170 a share in cash for each Veritiv share they own, which represents a 20.4% premium to Friday’s closing price of $141.21.